Investors Increasingly Opt Out Of Big Class Action Deals
Law360 (September 25, 2019, 6:57 PM EDT) -- Investors are increasingly likely to opt out of class action settlements and file their own lawsuits, with each of the four shareholder deals above $500 million between 2014 and 2018 drawing opt-out cases, according to a report released Wednesday.
In the five years preceding 2019, almost 9% of 382 class action settlements had an associated opt-out case, up from roughly 3% between 1996 and 2014, according to the report by Cornerstone Research and Latham & Watkins LLP.
Brendan Rudolph, a Cornerstone Research principal who co-authored the report, said the figures track with what people who litigate securities class actions had sensed...
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